Victory Energy is an
independent, growth-oriented oil and gas company focused on growing proved
reserves and cash-flow via the continued development of existing properties and
the acquisition of new resource properties.
Through its
partnership with Aurora Energy Partners, VYEY continues to build a portfolio of
non-operated working interests in oil and gas prospects and expects in the near
future to begin adding projects that it can operate. In the meantime, its
strategy is to continue diversifying those non-operated and operated interests
by targeting additional prospects that offer land positions large enough for
multiple well drilling programs and significant Proven Undeveloped Reserve
(PUD) opportunities.
These prospective
properties will ideally be located in established trends that offer long-term
development potential. Primary objectives of the projects will be to: 1)
increase oil and gas reserves through the drill bit and expand existing reserve
opportunities, 2) grow the business via acquisition of larger, oil focused
projects with a higher working interest position, where possible.
To support these
objectives, VYEY has put in place a highly experienced management and technical
team with over 120 years of combined and relevant experience. Management is
continuing to build outside relationships with established E&P operators,
geologists and engineers who provide access to quality opportunities and the
specific expertise needed for continuing success in the resource plays on which
the company is focused.
VYEY’s current
assets and prospective sites are geographically focused onshore, with a primary
emphasis on the Permian Basin of Texas and southeast New Mexico. By utilizing
an established pipeline of investors, available through Aurora Energy Partners
and additional third-party sources, the company is committed to creating
long-term value for its shareholders, which it plans to accomplish by
increasing oil reserves, lowering costs, boosting production volumes, and prudently
managing the capital on its balance sheet.
VHEY believes that
lower expenses and additional capital will give it the flexibility to invest in
developing its current proven undeveloped, possible and probable reserves. In
addition, its increased use of in-house and third-party technical and
geological capabilities will help generate added oil and gas prospects with
improved working interest positions. For more information, visit the website at
www.vyey.com.
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